Opinion
The US presidential election is casting a long shadow over the Fed
Lingering inflation has caused hopes for US interest rate cuts to wither. And that means the Federal Reserve risks becoming dragged into a divisive presidential campaign.
Karen MaleyColumnistIf Jerome Powell doesn’t have a thick skin, he’ll need to develop one very soon as persistent high US interest rates look set to make the US central bank a political target in the lead up to the November presidential election.
At the end of last year, Powell and other top officials at the US Federal Reserve lifted the hopes of Democrats when he steered the debate away from whether the US central bank would need to tighten monetary policy to when it would be able to cut rates.
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